Iran Ready to Withstand New US Sanctions, Says Economy Minister

Iran has expressed confidence in its ability to navigate and withstand the latest round of intensified economic sanctions imposed by the United States. Economy Minister Ali Madanizadeh declared Tehran “fully prepared” for these measures, asserting they would result in another significant setback for the US.

US Treasury Secretary Scott Bessent announced a series of new actions, labeling them the “single greatest financial offensive ever” against Iran. He warned that any nation or financial institution partnering with Iran would face isolation alongside Tehran if they did not sever ties.

Despite these aggressive measures, Iran’s minister stated that the country had anticipated such moves and had a two-year plan in place to manage the situation. He further suggested that key trading partners, including China and Russia, had not accepted the US sanctions and predicted broader international resistance.

China’s Foreign Ministry echoed this sentiment, stating that sanctions and pressure tactics are unhelpful and that Beijing would act to protect its own interests. This comes as major trading partners like Turkey and the UAE have recently halted transactions with Tehran.

In response to the escalating economic conflict, Iran has also issued warnings regarding regional oil exports and maritime passage through the Strait of Hormuz. The country’s aggressive stance and potential disruptions through the vital waterway have contributed to global oil price hikes.

Analysts have offered mixed views on the effectiveness of the sanctions. Some suggest the immediate impact on Iran’s energy revenues might be limited, especially if key partners like China continue trade. The current economic strain from the conflict is already being felt globally, impacting fuel prices and consumer costs.